Newspapers / The North-Carolina Star (Raleigh, … / May 20, 1830, edition 1 / Page 1
Part of The North-Carolina Star (Raleigh, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
n altttoii, it. oV.TOrcnBAr, l2a:t so, icco TTOL. I '' r ' -'- T1IE .STAR, rMu, wU r, ay ' ' i LAWRENCE&LEMAY. ' , . ij J .fcrf.-frsa,lki" MlM -llZmMt W will" M l- Li.kJiat' i'r-- PrrTafw a-- .AWiV.wwst, KX Tifta t Uacr dNiiiMi t-r . twenty- er-tt far . wim . i.Il leitar to tla w4ilort ut W V . .-. . - by Airniottrry. 'BBBr LAW. Of THE UNITED S.AlL-t. Let!.).' lA Fir Si lA Twenif-Firtt . I .i i ' i i i lar the re-protrMt'oii of ecrtaro unex- CM balanca ut lut-mef apurgpnauuna. ,mu mafUd by ine statu an wun mi nc imM oWWi, That (be tollowiftj aura. ,r otipeU WhImicct of lorwer aiiproprta- fur wnJry objoet of the aer" ol ihe r ..aalnitati aud la reUtiua to Imtwo fl".irs. d, mokioed io Ihe, Tr-aiiiry on the last dar lit year one thousand eigtu nuiwrea ana uil ire nut subject to the lirovi- . . ...! k lha law uirecuiuc suu ..; w 4 tn fkf account of the rlu fund, he. .k uma ara iiercbv re-aiurooriated to tbe Uvbieclt, reuKCtiveir, (M uuur oiiuuh " - . ..... a materiali for a fort on tbe right sans LMiaiiMipui, one buudwdftod uotty-to tlie Georgia raililia elaimt (or one thouawid la bunitred and ninety -two. 000 thousand k haadrd and ninety-three, and one thoo finca hundred aod aioetT-four, appropria- liraut of Marclt aecond, one thouaand cat fired auil twm-even, furty-oo thou mud in dnllara aoil fortv-tour aonta, " ' the enienMi Ot the militia ot ueorgia ana U. foe the upnreaioB of Indian aggreauona EieirfiWJttort, r c' o March teeend, one Bd igM hondred aud tweotv-aeTen, Jive Far lb remaining purehase money of a home lot at xanpon, m jiiuiw, uic uuui u ltT.two eenla. . lor the removing obatruetion to the Saaga- i rf'r, tiremy-eujui uouara, . r (be buiidiug ot ptcrt at ine eairanee m m nco bay, ' ihty-ulne dollar and eleren ku lue roaa irom r on wuo w w oimui, bamlred and ninety dollar and eiguty-nve i the road front Pensaola to St. Augnttine, ihousand tlu-eebundntd aod tuty-nine dol- LnH Mvatv.lara eenta. Wthe road, ealiea toe jag;arwu w ciwr Wc.tluuuanil dollHr. - ' f irryioR Into effect a treaty with the lnoe i,ulin. dated eleventh of October, one thotlr efehf hundi-cd and twenty, the buUnce of um annronriated br the act of March third, iknuuntl eiirlit hundied and twenty-one, re- ln.rUtP.I hw ihi act of Mar twentr-iiith. b an act ol Marcn tne eeoouu. oiw mm- rkrht kotulred and twentv-aeven, beioe ty-one thousand aeven hundred and thirty' r dollar. t.roarvin? into eneet the treat? wun me rokee liiUiant, ana exuiiguKntnr ineir ciaim ndi within the State of North Carolina, two sand four hundred and btty-oiuo dollar toeneenta. . . ' : " .. . i defravinr tfe exneniea of treatinc with the r- 4 O . . taw and Cbiekasaw loduui. tor eitinzuianine i- title tn land within the limit W the blate r . . . . . i j iuiuippi, oue thouiasa two nanurca anu three (louar aeventy nroe cents. tvMitrchuunir. certain traet Ot UhO wittim I- r .-- m , ... . Ute Of Ueoiea.teserveo oy ireaue, m w le Cr .-eks, and to the Cherokee Indians, tne ka of iha annrofknationol UltY tnousanu uui- r . .-!. made for those object ny an aci i jouco kini llinuund ciyht hundred aad twen- lire. beine nine thouasnd one hundred and I'" .- -.. .- ... , . argrataitou py tor aiaoanaea omceii anu ier, inclwlinc travelling allowance for the Me hundred nd forty dollar od ten ti, being the uuexpenueo aalanee oi appro tboi for those objeot carried to the lurplu i oe-the last nay ot tne year vom wwueui tiunJred and twenty! urthe piirpoe'hereitter ttated to 'l!je H eight thouaana uouara appropmucu iur ertttioa of a Custom and Warehoiue at Mo- Lbyutof Jy twenty-fourth, one thousand u umit( and twenty-eipnt, ne, ana iuh wmc ht4nwMnnt.miriiited. and ail additional U- Wistioa ol eight thousand dollars to oomplete iumejw an enlatved plin, be, aud the same jereby nude, to be paid out of any unappro- mooi'T tne i rcouij. A. 8TEVENSO; Vf Speaker of tlie I touae ol UcpresentatWe, , J. C. CALHOUN, . Tie-PreidenV -of h- United Stott, nnd i . Preid.ktf the Senate, - epd, April . J 1 Of'UB UNITED, TATE3 3tt tu uumu n the' wule thea, it thay b. com . "I! j asserted, that t6 counfjf in world bin circiiUtina; ttiedium ; of ht : o iifurmit f ' 'than T the Unife.fi H and : that no wintry , of any tte the Wme geographical extent f currency at all comparable' to, that tf:United States on. the acore of Wity. : The tortimitteb" Jiave seen ptUemCnt of id iBteltiafetit tfavel ' bo has Visited almost every part (Europe,' exhibiting the' great raria' ' ihe currencT th '"diHererlt parts M same empire of kinztToiu. In the bills of r the Ban of St JSrsbursrh hate ' Very limited bircii' un., At itiga, and throttgtiom uour-j p, Uvoornia and til tha Soalhern ' of the" empire, the' currency is f'Baivel f siUer5 coin. ln Derf- YS tho votes ; of the 1 Bank of Co- fiween are current onlv itv Zealand f other islands, and Jutland, but will P Pm at all in Sltawic and Holstein. 'h constituta ihe, best portiou of the him; r fcinceth Coneress of Vicui kuermany la divided into thirty-nine prate States; eachiiaTinff a distinct pency, tbough htpresented la i0e Diet at TreakLrt., Ou tW territo ry io" .ict LhtM aevtral crrru ara laaaH, rkry axf snera articles of eatakandu; waicb circaamUaaca kal ieo r ia erry torn a ta a aaaer mi and distinct class af ttatleaiata, called asaoey ckaagera, - Hoar fir tbtsa a (Arats and ancoaoected carrtneiaa V"a a , teadmcy to rtubarrtaa coeataarca, Aiay be iaUrml frata the fact, that a UavfUer.gotrtr from St. Petmbargh ta Calais' iU loaa opoa tka aaavoida b'a chatif;rs of aaoaey aa artragt af sit Er cent. in jraace. tha bills of tha ink are of sack lance deawmioaltoos a ta taa adapted only ta tha greater operatiooaof cor"frc, and ara rtria- 1 1 c I k . I 1 ripauw conuocL is osBKcra ana ex- teosift traders , r'u. Tka teoeral carreocr is siJic..- and. ta avaid the trouble of carrrint this to distant parts of tha kingdom, gold pieces, or bills A eichanre. hic ara preferible, ara rfchabfdat a premium of front one and a hair to foor per cent. Alter this brief review of tha currencies of Europe, the committee will barely state, as a conclusive sindicatioa-of our cur-, reacy from tha imputation of unsound-nt-ss, that there is ni puto( in the U nion. at which a bill of the Uottrd States' Bank, issuetl at the appoaite that, before eitiemi'y of the couutry, is at a dis count of more than one fourth of one per cent. In confirmation of the views here presented, as to the comparative uni formity of (he currency furnished by the bank; and. also, as to the obliga tion f the bank to redeem its bills, io dittcriminately, at all the offices, the committee will present a few brief ex tract's from the speech of a statesman, whoe opinions hare every title to au thority on these 'important subjects. Mr. Lowndes, in discussing the ques tion, how far the bank had performed the great duty for which it was created, used the following decided language in 1819. when the curiency bad n4t reached the point of uniformity if has now attaiued by half of on.. per cent. i tie great ouicct ui tuc ju?bi la ment in chartering the bank, was to provide a currency which should have hat degree of stability and uniformity in its value which is required by the interests both of our commerce and revenue. A currency, equally valuable at every place and every time, cannot oe proviuea or uuraan wmioui. anc nearest approach to this object has oeen generally supposed to be afforded by the employment of gold and stiver as the measures of value.- Tha 14th Con- eress did not aim at ideal perfection; they wished to combine wun tne con veniencics of bank circulation an uni formity of value equal to that which was possetsed by the precious metals; and the means which they employed to' secure this nnitormity were simple and effectual, by enjoining, under heavv penalty, the payment ot all it notes in coin, upun den. and. In the report, indeed, the notes of the nation at bank are said to be now 1 on the aiue footing with those of local banks Of the footing on which local bank notes stood, he should apeak hereafter; out the price Current upon his table iu- formed him,1 that the greatest discount ort branch notea of the Uniter btatea was three fourths of one per . cent This was a value much more uniform than that which coin could bp expected to have in o extensive a country.' . Ho had been lately looking into a book on ooiitiral economy, which had been published here, wiih high, and, iu. re aped to its clearness aud precision, with iust Commendations the work of Mr. i'racv. - He inferred from, onaof his chanters, that the difference of ex change between Marseilles and Fans was often from two to three percent, If. with all the facilities afforded by the internal improvements in which "France IS so ricn, witn a currency cuusisuug almost exclusively of gold and silver, the variation a tha valua of money is thiee tirart greater i her territory than nn mir cantintnL can it .be said, that. in this repcct, trie bank has not ful-fili-il- ih ihiectsVof its institution? Before its esta,blishirienti the valueof, bank notes? eveo in the commercial States, had varied twenty pet cent. frbin each other; aud,; as uooe.o.f them lore i tiled .oronortion .ia tno pictiwua, mptdurnr t ariv natural' standard, it was impossible to assign J u,ri'.54 their depreciation;' : Ypu nave fequiredj that the .currency, inrnisieu oy . iuf .un- tioriatbaiik should be tVvery where, coa- vtible into silver, and; it is so. ,y.oo iav expect,ed that it sbouia pe as oni- lorra aV cojn, and U is more so. ,ne woufd wt detain , Uie" committee by read ihg a piper, which, lie bad prepar. eu WIUI umi iukhi""'! "' " V; state 'of exchangc,'nee tRetablish- ctivad ky it? Soave Ualis!actiM was Ipecia. Aad evta ia'tba aery few ia-, ed by lha taw crtatieg'tka ckarterVaod 'P,7vl,b5c" af ataacta la whit t-a ptper vf Suta atdy ta lv forfeitexl by tka fi!ra ta parbtraav tboaa dsUes, tbera s Baihwg la tka coatvexioa at all iacotuiateat ilk tka radependeatfa af tka baak. and tba parity af tha Ooveranvent. ' Tba coaotry kaa a deep interest that the baakahaald maiauia specie payaeats. tha Uaited Sutrs LUsk were at a coast af tarK-fourthi of aai ftt ctat Ha rrsd from a price ccmat tba stats of ti market for bank notes, by wMck iiappearr aaif woica ware ia aisted ta be ia very goad credil, varied froca t diaraeat af two tod a kaif to ana of seven, tfieea, twenty ive, and evaa thirty per cent. Was oar rtfeaaa ia be received ia these nates? Haw were they ta be apUTd? Tkey fnlgktbe expended la the district la which th.y were ioed. But was the cxpendi- tare or every distrkt ta be exact) v lim ited to its revenue? What. became of the Union if it were s? Ha spoke of me mine. and. nt the name. Oar Union might dissolve in Imbecility a wen a be destrayetl by ymleper. Dt l not anion imply, that the resources af oe State, its money as well as its men, might be employed for the defence of another M But. if the Government were will ing to bear the loa of a depreciate! and unequal currency, it mat neglerl the plainest principle of the Constitu tion in doing so ("quality ol taxation. The fommi'tee must well remember. the etab!il.meot nf ihe banks it, depreciated, tkot kaaka ara wwMiae tp their cvacaras; and it vasy be atfely said, tkat a cititaa af tka La ton it ander the Becessity af taktee depreciated . paper because a aeettd carreney cannot Ui attained. North Carolina Is believed ta be tka ealy State1 aod tka Caveraaeat aa edditioeaJ ia where papar af tke local banks la ine- tereat - that it shoo Id keep the public decraableia specie, aad caaaeqaeatly fands aalely, and transfer them, free deprvciatedw vea there, theeWpmi-jtaf expense, ' wherever tkey may be atioaiaoaly one or two per cent and I wanted. , Tha GevernreeaU' therefore, wnai is mora important, the, paper ol . tin no power aver the Uux, but tha the Butk of the Uaited State's can be , salutary power af enforcing a com pi i obtaiaed by all thoae who desire it, aad ! anec wttk tbe terms af its charter. Ev ery throf is fixed by the law, and noth ing left to .arbitrary discretion. It is Una that tha Secretary. of the Trea.u f y, w ilk . tka m saactioB of Coogresa, would kave tka power to pi event the bank fwmasin its power unjustly and oppressively, ,aou io punisn any at kave aa eouivaleot ta rive for it. Tba caramittee are awate, that the opinion is entertained by some, that the local banks would at soma .time or other, either voluntarily, v -by the coercina t af tha - State ligislatarea, have returned specie na wants.' la the very nature of things this would seem j tempts on the pait of the Directors, to to m aa impoasibiliy. it mutt be re-J bung the . pecuniary louuence ol the membereJ that ao banks ever, made institution to bear anoa tka politicaof aucH large dividends as were realized I tha country, tvJ withdrawing the tjoi by ike local institutions, doriog the sos- j vemment depnsities from the tRending plosion of specie payments K rich I branches. V but, this' power wouid. tut aod abundant harvest ot prohl was be lightly exercised by the treasury, opened to.tbem, which the resumption I as its exercise-, would: necesaanly.be if upecie iMymenta must inevitablv laubiect to be reviewed r Congress National Bank, such was the uneuuai ' blast. While permitted to give their Ills, in lis nature, a salutary torrec value of currency in ihe different ' own note, bearing no interest, and not Itive.ereatihg na undone dependence on States, rhat the merchants paid duties, I redeemable io specie, in exchange fori the part of. the bank.,' -v ; -' -1. varying fifteen per cent from eac! better notes bearing interest, it is oh 1 But the stateaf things would be wide- other, on the same articles." vious, that the moie paper they isaoed, 1 1 v diflereat, if there waa no National i . t- i-i j l .LS d . . . wt .Il.-l l : . x -i. iv . - -.L ji On the question, whether the bink was bound to redeem, indiscriminately, the bills of all its branches, he said: " He should not argue that tbe bank was not bound to pay its notes, indis criininately. at all its offices. He be lieved that uo body now contended that it was" V "It wa no Unfair account of the practical operation of the system of which he was speak: ing, to say that it gave to tbe branches the higher would be their profits; ' The tank, and it was left tojthe disrreliou most powerful motive , that can operate of the Secretary of the Treasury tit ae . upon moneyed corporations, would have lect the local banks in which the Go existed, to prevent the Stale banka vemment depositee should be wade. from putting anCend ta the very state All the State banks would, in tkat case, of. thiogs, from which their excessive be competitors for the favor of the Tree profits proceeded. Their very nature ury; and no &ne, who will duly "consi must have been chanced. ' thorefore. be- der the nature of this sort of natrooage. fdrethev could have been injured to lean fail to perceive,, that, in the hands co-operate, voluntarily, in the reatora- jof an ambitious man, not possessed of tionoi ine currency. - n i quite as i periect poiitv sou) anocuuinE tntrgniji lighten the relative burthens of federal ever happen to be an administration dis where the exchange waa unfavorable, j improbable that the State Legislatures lit would be 'imminently . dangerous to the entire disposition of the specie-of; would have compelled the banks to do I the public liberty. The-State bank those branches where the exchange wat? their rlutv. It has alreadv been stated.! would -enter tho fists of political con .. . . r ... o i . . .. y . . . . k -f , ...... . . ;'... , . avorabie. v Upwards of six millions ot that the tendency ot a depreciated cur- troverty, wiui a view io obtain tuts pau specie have been 'sent to the branch of jrency - to Attract, importations to lherronage; and very little eagacity , is, re New York, besides the amount which puinta of 'greatest depreciation, and to quired to foreaee thaCiflhere should i u u i... ,L'. . -r .i i . ..r rj.j.tl Z i.- ;.. i t.. . aw nan uccn pam ujr uie nuuscriucrs ui tne bauk there; but, in issuing notes which the bank of JNew York has been obliged ta redeem, every branch .throdghout the country has drawn upon a fund, with' whose condition at the time, it could uot be acquainted.?' ' Vi "Such a system might be expected to produce inconvenient chan ges in the distribution of bank capital. an extreme' facility of obtaining loans at one time, and,. unexpected contrac tions of discount at. another.", 1 V ; " Whenever the state of ex change is UHfavorable, whenever the just principles of banking require a reduction of disccunts, then, under this system of indiscriminate payment of taxation would naturally produce, a- poled to use its patronage to perpetuate mong the States, a rivalry in thebusi- its jpower the ' -public funds would be ness of excessive bank issues.,. But but jo jeorpardy by being deposited in there remains to be stated, a cause, banks unworthy confidence and the of mora general operation, which would most xtensive corruption- brought to have prevented, the interposition of the bear npon the elections throughout the State Legislatures to correct those is- Union. IA state of things more edere sues: ; 'Z 1 ; ; Ito -tb.8, parity f;4lie .Opveynroent -h ! The" banks were, directly and indi-j power more liablei to le,abused-can rectly the creditors ot the whole com scarcely be imagined..? If five millions mumtv.and the resumption of pec ie I of -dollars were annually: placed lathe payhYtnta necessarily involved a genr hands of , the; Setretafy of the Treasury', era! curtailment of discounts, and to pe distributed at, his discretion, for withdrawal of credit which would pro- ihe purposes of internal improfement; duce a. general and distressing prcs-1 it would. not iovest .him with more ore unon .the ontire class of debtors. I dancerous and corrUnlins power; These constituted . the largest : portion 1 ln connexion with this bratich of the meals wkkk its large capital and aa merwasbrantkeakave aeied it to make ' witk Hem. Tka dervv' la wkicb that; " iottllia kaa redaccd the rate af ex cfcstfs, anay be burly sMuaed as thvt . ia Mch It ais mitifsted the .action of tha Treasury epos the brate banks. It, ' for example, there, e listed Co citUoal " bank aad the depositee ef tke rrwoae - collected ia Ckarlestoa were made ia ' one af the local baeka, what.wacJd ba ' lha. effect of trsBirerriog, anil!y, . . aiae hand red flioaaand dollars to " asa ingtoa er Norfolk? Tke local banks, kaviogna branches at either af those t . ptacew,1osteadaf transmitting draughts, as is sow-generally done, would be compelled to transmit specie Tka bank ia which tha Government depo sitee ""were made, would coatequently. be under tke necessity af demanding' specie from all thi other tanks, id a meaner, ind to an extent, tnofk- mart oppressive than any thing that can? be imputed to tke Bank. of tba Uaited -:, Mates. It, to -avoid these specie , draughts, tie local banks should pur chase bills on Washington or Norfolk,' they wguld probably cost five or sit per . cent, even ia a tolerable state ol the currency.- which would be a lots ta the banks almost to tba full extent ofJhe premium, r':' J J , Although the -expediency af renew ,. ing the charter of-tke, preseht bank 1$ not a question now submitted for the de rision, of Congress, the committee con- i slder it so far involved in the matter re, ferted to ihem, aa to render it their da ty tu present snipe cons'ulerdtiops bear ' ing en jnat question, iq auuition to v na. they have slid on the general expediep ry ol maintaining. such an institution. If a national bank. similar to the pre' lent, be a necessary , an- proper, agent, -for the accomplishment of tne great pur poses heretofore Indicated, the only re -w mainiog qncstior. wpaio ecm w ue, whether the; charter -of .the present " stockholden should be renewed, or a ., new set of stockholders incorporated. .- ' in consiuering tnis question, gress-wi'l,' , of course, be . governed 4a some degree, by the terms on which thf present stockholders, t win igree t ac -cepta renewal of their charter. ' But( as the committee have satisfactory rea ' tons for believing that terms eminently V 4' V its notesr the bank has nothiug to fearlof the population of all the JState Uubjectv the.cm;mitfeei advantaeecos to the Government canJ - be obtained, IJiey.wilk4)roceed (o iome Vther inquiries. r f"'iyha.t,ihen, Would be V -V ihe eifect ofx refusing to renev .thepre -aent charter? ' " Arid, In, the frst place, . uiK.I ara thtt- itiilitirementa l&r nnrtiiini1' : V ' that course?.-' wir?-' Vk ' W' ''U ia sometimes alleged 4iat the pre-- sent stot Kiioiuers are .larger, capitalists, rid, as the stock of the bank is some SO ' per cent, above par, that 1 , renewal , of , the charter would be equivalent, to a grant to them or 2Q per crrfti opop their capital., It ja trqe that . a tmsll, propor? V i," where specie payments were suspended, 1 miue Ihe grounds of a .complaint some. and bauk issues excessive : Those.! times made against the Uaok ot the ,U therefore, who cdntrolled public opin- nited Statesf IIkIs alleged that tint; ... ...... ... .... . ... I . . -.. t . i .i L : ion in the states, where tion of the local puper were interested in the, pei the evil, t Deep and deleti fore, as the disease, evidently"'- manv of the states, their cbold not have been expected to apply Finfury of the community,'" - ln,the firaj' a Ol Wll nited States. And hereit is wortlif of I to prcttint snecial remark, that while ' that bank oaoen and this duty can" enlf be per- ha compelled - the jocal' banks to re . lorined by'enfortlng' ";upon the 8ta't from a "draught of specie, and is en couraged to lend to every appl.raui. Wherever the exchange s favoiabie, and on the sound principles of bank ing, an enlarged accommodation might be given to the community -there the flow of notes from every State whos? exchange' is unfavorable,' contracts; or suspend1 all the operation of ihe bank. Thus, wherever iliscouuts should be enlarged, the tendency of this system is to reauce tnem,- anu to enlarge tnem wherever they should be "reduced." " Independently of the gross injuctica of Requiring the bank to perform all the exchanges of this extensive con federacy , wuhout? any compensation, sume specie payments, it has most ma- . bariks the payment of specie fo iny "ex- these enlightened view show mostcop- i tenally coutributed, by '.:iti direct aid cess n tljeir issues. , ut;the. commVi luno-a to verV wealth V men.; Sometlun more than two millions ot that owne In 'ihe. United States belongs, to perstink I i .l.i:... u.u .l. rAi V .,vt ...i i,a me oeprecia-(Dana, availing useii oi luefUTeriiiiieiiv i My'"fc "k1 v" v r"; ."::-y r was greatest.rdeposites. coosiRting.Ljrr 'some piacMa-u,lv''-r JP-catV i aiso.jrue tnai; 'sif . iietuatlon of principally of local paper, makes heavy I ItnrigRera o ;rlus, there-1 and oppieshive araugnts on. ine -,Weai I iju.tn oi,tMe.aapws.f wi uw moer i-.-f.f was; io ( banks for specie, and thus compels tlrem 1 iand. U w v jfemarxett that the i0? ; v I oniolMnroa 1 In rurlail their (lltf-uunta. to II1P irrpai I Vtriillieill. Ill U Ul1 111c uruiuc mo; I remedv. so nainful'aa .thai romuulaionlrilace. it is to be 'remarked,? that one of )t specie paymenw wouia nave oeen, the nignest uuiieaoi iw,niii. great-1 ithout the aid of the Bank of the U-- object for Which it was established wits ; aited Statef. And hereit is wortlif of to prevent the excessive issue! of local UnUed ta'tea,; hqldi ; jfevm nilliims-r' ' '; that persoiis owning less tha"rr jftyertbu,;':,l'- sand tlollars each, tiold- lour iriiinolit ; six hundred .'and teightyrtwo thousand! Vs and thai persons .owniog netween iiiV'fi -v a ; . r- f r -- .-s- . y-:y ,.: . . ' - r-y . In: . . ... : , . . Mja.fiKw tit Mi&rlc : !h&t m wnfW .AftuiiUj. Vs. ciusiveiy its inexpediency and jmus-1 and .liberal ; arrangements, to enamel tee are inuuceu to neueve-.iiaf mis com i j.jsi ..-- ".,. "! ' : a nee, asit regara tne ainerem sections tnem to ao so, anu uiai witn ine least ipiaint is principally vwuik, v - iij jjwb,iviu., . .v ... w -vy ol ihe Union, it would inevitably rep- possible embarrassment to , themselves now exists, to tne laci, tnai tne -opera i.oruontji iinui rii, --v.!?uj- un der those parts ol ihe union where the and dietress to the community. 2 U; the tin ol tne retterai j tehbury are ,mi ,i iner uibmihuuu. k..k ..1 . .1 C 1 .. . : T . .. .. I. 1 An .... Mn,.r.tina a.r f t,M Tin n V i I III II 1 lalllH 111 IHK nil rati: trihiiMrv ti ' thnse where the ' onvinu. to rntnnol Hhn tiank tii' eiKuirif, I hMaafck ilia bank U the a?ent bVJtthbmf l6divitluals,,-llly; .o.Aa 1. ..i , v. t,.nL. mat-1 .1... ,,.rihnni ir. rverfiirtriAii i ma t uunnieu stiu nit v tnreei Mioosana it nov' i'.k:i .i." ... : i:. ..u- .:u: it ...'' .k. . 1 ik. n.rAi.nil.. 1 h Irl h thi nnirtnat snbHcritu-ra. 1 A lie . -J : it una wja v . i r it w m w iiiriiu.iiir i t- hi. wiiiiiiir aia maan i ill- r aiaai - uir a.iiiaa- i ir. i. u ii.ili ca.azi.ca, aaaax .aa K.B ajaaia....M ..v.w -r , - - - -n- t - t . t - - - - ...... , currency, which the bank was designed mUtee-ji're decidedly of-tbe Apiiootbatjlpoaitca mr;Ue paper r the loeal baftkij thorresisa oeei pucnaseaai loemar-? In rnrrr-t uimilii h narnornaf H hv tha I thou nn I ,,nl hi,, .liina sr.. tinai'lffl I rlninrv in nnRniritAI nnIl IT IO IIIOSE I KC1 DUvCS o Hilt; iiairiivii VI. 11, jtu" .-. vain attempt W make, it perform im- bv the Bank of the United State! with- banks. ' On , the, contrary, it-tends;to bablyi when those , pntea, ere, higher,, possibilities. -xThe power of annihiia-1 out producing a degree of distress in-1 giva them credit,, and m aiesiened to I thhn at -present. t . MOst 'of. the Jovcst-jj r s...0rh.. Ki- .xt.. ih.A ii. -..n vni. E. ih.r .tr..Mi,i Kuf ihn Rank of thel ments made bv "vyill. and deeds: 8t de. '.J:.i. , -t.f.. ri'.j-;,;ii ,i.,,i I it:.j tara.a i. ni .niv , h.nt,il tn '-.aw I fi-eeainenuitv.torthenseof females unit ' ' . ..,-.... a. ... a. ui. " . L r' i: . .1. t . a I. " - .1. - . a. a. .. a- . i a i- . ........ I- . ... ... m . i i u.m., ir a A a inaaiin-at . ia.. l aaar B'li aaa nava. aaavaaaa rn.nAi . meir retriarns on una, oiantii vi too i m apevie yr n-.owo ,uii'". i 1 ,-.--fi- - y- - .,..,... ...a a.A i , ... n.n man i aaa , , r alia, a maiaaa anar aiaaja.aa. awiaaa vimia uiaiaaia- aula--. SCITCa lUT UlC Muaa;ni aa.. .vn. faa ' I "r V - , " r per, but to transler the tiinds to any part ot the union woera inev oy ne reqiur id for tliibursetnent.- Let it be ajum ed, that the fJovernment collects annuf- any, at me uueium-nousa m tvaancs i " . . 'i- .f j ii.i. L i .i ion, one niuiion oi uoiiara iu lucai wo ii a, .16- points, 'without Khe losiofltime or the appiicauou oi laoor, oeioogs to no nu man institution no hu-i eubject by the obvioue feflectioo',' jhat.? if Congtess, at the-close of the' ; wal-; ' .fit 1 t rl' .t. iS.v...--ki- t-..--. But the salutary agency f the Bank ! had left it fo the StatesTtd' restore the of tlie United States, in furnishing af disordered, currency. ' thil , important souod and imiform currency, ia dot corijfunctiori of sovereigntV foultt.v have" fified to lhat pWtionJof f jibe ':urrcncyl(ben .lef( with" those Irom whom, the h ritnaist of itt: own bills One. .' r.-,nstitu tion has exDresst v - taken it U the tnost important urpbaet whictf' kod by whom, it could not be beneficial tne Bans was uepigueu tu iu;,vuiupiin,,iy dreneciuanj cci ticu. - uuiauvuici and which,' it fo I confidently believed. ideaj Jof eongiderablejiplausibility. is tie other -human agency coota have ei-'noi wimoui, na auvocatep., i i,ao jeciea, "Doer our icueiousc ojsicm yi . ihul ,i.iii .jiuvciiimcwi., . uo .a,ai mehf : of .the tank, v witn ; -cngiaoo. 1 . i - V ..' .. a .r 1 . l-.......! S. ' sTpnr and Holland: lor HE IVUUU ntiu- self ocdupVing much mOre'of tbeir time thad he hud yxpectedBut; bebeliev-. it iii sf t mv memuer. wim wruum iuiu l.ta "ir.ntloi.j'to the suMecC would re e-aw . r. - - j mark its steadiness during tna penoa He thought himself justified in araw ing fi-om. this fact a. conclusion highly favnrahla to the bank.?! 'C : In reference to the great depreciaiion of the paper of the local taos, pre vious to theTestablishment of that o Ka TTnWi.lI SBte: ha slid:. Did the c interests, or duty of the Government of the United butes per ',i iUt tW'eurrencv ehovld be re . Government wai 4,t,hej enforcement of snecie payments on the part of nunter ous local banks, deriving their charters from 1he leveral "states,-and wtiose i-uiiumotion and . continuance of specie payments the condition npon which the state uanxs snouiu,, receive ; tne vo, vernnieht deposites,igUt have restor id the currency to a state of. uniformi ty. C Without stopping to give- their almost entire currency ol the country reasons lor believing mat specie pay paper .irredeemable in specie, and tl iimitabU in itl quantity, constituted the Amidstl a : combination of the greatest difficulties, the bank has alinosl com pletely eucceeded in the performance 01 tnia mruuuua, wellborn, uu pBiuiu, duly.' -J.VV itn exceptwuB, tou iucuubi derableto merit notice; all, the State banks in the Union have resumed specie navments Their bills: in the respec tive spheres ef their circulation, are of equal value with gold and silver;, white, for all .the operations of "commerce, bevond that Sphere, the billa or ite ch'eckl 'i of the Bank of the v United S la tea are even more valuable than menta could not have been restored in ihi wav. and that even if thev could. a uniform currency of general credit, throughout ine union, wouia nut Dave been nroVided. the committee will pro ceed to give their reasons for thinking that : such a. connection between the Federal - Government and the StiUe banks would be exceedingly dangerous to the'ouritv of boUi.v While there is a National Banki bound by its charter to perform certain stipulated duties and entiued to receive me uoyero From this brief analygis, iti will appear : : that there is nothing in the charactelr" ' - of situauon oitne stockholders, which"" 1;- a a 1. - J. ...lI. ' i. a iltA. mF lh ah rl aswlVA aarl. aV. -..s.. . poles,; and disburses In South; Carolina capital to purposes highly peneiicial, a 1 V only oue Ittiddred thousand, it would re- the committee have attempced to sbewt ; alt?frm''thie,'thatW-tfioverBment to the Government and people bf tb'9 ; j l... u i.,i.i)viihaiiairiii iini. i i ii ipn .iiiifi. ..ii iiireicrnrB awn an . - . srauiu iibtc limy iivn t-y ivvu.aui. uwi'. I " - ' t - " v - ' - , . T - . . . , . . - . . . i . I 'til: . a" . I l .1 a i .. larl of local. barik, pap' deposited in l ven. miiiiouo oi u iock ,oi tne Hanav)t -r ihe Uharieston branch; wuicn me nana ' " tcjuinciii uwui, pa mucnj u.. . -. m.tk t,..i,oi ta iu nhhrttr- and fur iwe&Uhv men ownmora than two roil- ' TTUVIU V. .....i. aa j w,.i , , : . y . ... . . - ----- the national liene.il, to traw.ler pemaps I iiona,, men in mouurato xircsmsiancen- to Wash neton or Norfolk." Aa thii own tetwee,n seven ana eight muiionsj ; paper would not answer the purposes ol land widows, orphans, and institutions. "-; ii,. nj.ai.Mim.nK . iKna iiiurp ihtt I cipvoted to. charitable and other nur-.i - - . -- r - . - a m .... - i t . a . r - r . .1 . ., m n . , . n .twat naai- , at. .Mai 1 1 mi . . QSnK wouiu oe, oi coursetcomptsiivu ni jvc v ?. t.jr uiVv. 'i ll ' , .uot ute imjtjA-nvu Hint uic stutav , .. aa-' f. a a a owned oy ir.eo or isrge capuai wouia provide specie, or bills that will .com manil rnecle at those blacei. f It 1s ob vious, then, that it is $fw inequality in the collection: and disbursement of 4he levenue, that produces the evil 10 ques apply with eqqatft'if. noU greatifr force," to any bank that could ba organized. In the very nature 01 tmn,' ;men wnoj L a ao . I tk Alt w-1 (1 Q r Wtl f ! J n V A It at. l'ira , . lion, t- If all the revenue tollected Id have large surplus 'capitals are the jRrin-w: Charleston were disbursed in the State, icipal subscrtnera ai li.e iu st organza', v . ni Amntrht WnnM ha mad wnon the I tion of a bank ' Farmers arid planters', . trhts local bank for specie,7 The Bank of tbe United Stti?s, o": tar from being justly' obnoxious to any;! complaint oo this score; ha tt cntly mitigated tbeei; 1 tton of the Treasury upon ) tr-e : local I. . . r.r 1 ai I Ihent depositeias a compensatiojj, Jix banks, by tneM of .the liberal arrange an active employment far their capitals " do not choose to ' be the', first edveat t;?. riir ia :'a biiuk ;prijcct.:; Accordingly, ';; wher thi present bank went into opto v. ration, it ia believed that most pi t. . J . l'. '.y ..V'"
The North-Carolina Star (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 20, 1830, edition 1
1
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75